New Mexico recently updated a published bulletin which details the effective interest rates for late payments on tax due. This bulletin lists the annual and daily percentage rates for the late payment of taxes due, along with a method for calculating daily interest during the applicable period.
The annual rate of interest remains unchanged from January 1, 2017 at 4%, and the daily rate also remains unchanged at 0.010958904%.
To review this information in full, please visit the New Mexico Taxation & Revenue page here.
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